Anfield Nickel Corp.
TSX VENTURE : ANF

Anfield Nickel Corp.

September 20, 2010 08:30 ET

Anfield Reports Interim Mineral Resource Estimate for Mayaniquel Nickel Project, Guatemala-Significant Increase over Previous Estimate

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2010) - Anfield Nickel Corp. (TSX VENTURE:ANF) ("Anfield") is pleased to announce that it has received an interim, independent, National Instrument ("NI") 43-101 compliant mineral resource estimate that has significantly increased the size of its 100% owned Mayaniquel nickel project in northeastern Guatemala. At a 1% nickel cutoff grade, contained nickel in the Indicated resource category has increased by 16%, while contained nickel in the Inferred resource category has increased by 175%. The mineral resource estimate now includes limonite mineralization as the preliminary metallurgical test work completed to date shows that up to 30% of the processing plant's feed material can comprise limonite mineralization.

At a 1% nickel cutoff, the estimated, interim NI 43-101 compliant mineral resource at Mayaniquel is:

  • 12.1 million tonnes averaging 1.57% nickel, containing 416.4 million pounds of nickel in the Transition and Saprolite Indicated resource category.
  • 49.6 million tonnes averaging 1.37% nickel, containing 1,494.1 million pounds of nickel in the Transition and Saprolite Inferred resource category.
  • 7.0 million tonnes averaging 1.14% nickel, containing 177.1 million pounds of nickel in the Limonite Indicated resource category.
  • 13.1 million tonnes averaging 1.11% nickel, containing 319.6 million pounds of nickel in the Limonite Inferred resource category.

The mineral resource estimate at different nickel cutoff grades is shown in the tables below (the base case cut-off grade of 1% nickel is highlighted):

Transition and Saprolite Indicated Resources

Cutoff grade (% Ni) Size Grade Contained Nickel
Dry Metric Tonnes (millions) (% Ni) Pounds (millions)
0.8 12.45 1.55 424.3
1.0 12.10 1.57 416.4
1.2 10.58 1.63 380.1
1.4 7.95 1,74 304.7

Transition and Saprolite Inferred Resources

Cutoff grade (% Ni) Size Grade Contained Nickel
Dry Metric Tonnes (millions) (% Ni) Pounds (millions)
0.8 66.8 1.25 1,833.5
1.0 49.6 1.37 1,494.1
1.2 32.0 1.50 1,054.2
1.4 16.5 1.65 661.5

Limonite Indicated Resources

Cutoff grade (% Ni) Size Grade Contained Nickel
Dry Metric Tonnes (millions) (% Ni) Pounds (millions)
0.8 9.7 1.08 230.8
1.0 7.0 1.14 177.1
1.2 1.8 1.30 52.6
1.4 0.3 1.47 9.3

Limonite Inferred Resources

Cutoff grade (% Ni) Size Grade Contained Nickel
Dry Metric Tonnes (millions) (% Ni) Pounds (millions)
0.8 24.4 1.02 547.8
1.0 13.1 1.11 319.6
1.2 2.2 1.28 60.8
1.4 0.2 1.46 7.2

The mineral resource estimate contained in this news release does not have demonstrated economic viability.

The interim mineral resource estimate was based on a total of 59,350 meters in 2,623 holes, including previous drilling completed by BHP Billiton and Jaguar Nickel Inc. comprising 41,613 meters in 1,855 holes and 768 holes totalling 17,737 meters drilled by Anfield up until August 10, 2010, the effective date for this estimate. The mineral resource estimate was calculated using ordinary kriging with nominal block sizes measuring 25 meters long, 25 meters wide and 2 meters in height.

An updated NI 43-101 technical report detailing the mineral resource estimates will be completed and filed on SEDAR (www.sedar.com) and Anfield's website (www.anfield.com) within 45 days.

The Mayaniquel project comprises mineral exploration licenses totaling approximately 80,000 hectares in the nickel laterite belt surrounding Lake Izabal, 120 kilometers northeast of Guatemala City. Anfield's mineral exploration licenses lie adjacent to the "Fenix Project" owned by Compańia Guatemalteca de Niquel S.A., a subsidiary of HudBay Minerals, Inc.

In January 2010, Anfield initiated a 44,000 meter drill program at the project. The program is focused on expanding mineral resources at the Sechol and Nueva Concepcion/Chiis deposits and delineating new resources at the Nueva Caledonia, Tres Juanes and San Lucas target areas. Eight drilling crews operating 8 drill rigs are active on the Mayaniquel project; four crews at Tres Juanes, three at Chiis and one at Sechol. Based upon the current drilling rate, the planned drill program is expected to be completed towards the end of the first quarter in 2011 whereafter an updated NI 43-101 compliant mineral resource estimate will be completed.

Robert Sim, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the mineral resource estimate. Mr. Andrew Carstensen, CPG, Vice President, Exploration for Anfield, is the Qualified Person as defined by NI 43-101 for the Mayaniquel Project and has reviewed and approved the contents of this news release. Sampling and assaying are subject to a quality control program including standards, blanks and duplicates.

ANFIELD NICKEL CORP.

David Strang

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release may contain "forward-looking statements" within the meaning of the applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anfield Nickel Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of commodities, as well as those factors discussed in the sections relating to risk factors of our business filed in Anfield Nickel Corp.'s required securities filings on SEDAR. Although Anfield Nickel Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Anfield Nickel Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Anfield Nickel Corp.
    David Strang
    604-646-1899
    604-687-7041 (FAX)